Rendell Proposes PIT Increase
He's been tiptoeing around the issue for weeks, but today Governor Ed Rendell has officially proposed a temporary increase in the state's personal income tax.
He says the tax increase would bring in $1.5 billion a year for the next three years, and is one of the steps necessary to close a $3.2 billion revenue shortfall.
Rendell says he's also still in favor of new taxes on tobacco and natural gas extraction.
Most Republicans in the state Legislature say they prefer more budget cuts to a tax increase.
He says the tax increase would bring in $1.5 billion a year for the next three years, and is one of the steps necessary to close a $3.2 billion revenue shortfall.
Rendell says he's also still in favor of new taxes on tobacco and natural gas extraction.
Most Republicans in the state Legislature say they prefer more budget cuts to a tax increase.
.jpg)
Comments